What dominates the section
- Manufactured-home occupancy, rents, sales, and property values depend on economic conditions across concentrated state markets.
- Debt refinancing and mortgage payments threaten property ownership, interest expense, cash flow, and distributions.
- Compliance, unknown property liabilities, and technology-driven competition add operational and profitability risks.
The risks most specific to UMH Properties
Real Estate Industry Risks
Economic weakness in states where UMH is concentrated could reduce manufactured-home occupancy and rental rates, limiting revenue and profitability.
If any of the above were to occur, our business and results of operations could be adversely affected
Acquired properties may carry unknown liabilities that could require substantial settlements and reduce cash flow.
Any of the above listed factors could adversely impact our rate of manufactured home sales, which would result in a decrease in profitability
S&F’s SAFE Act licensing requirements across operating states could increase compliance burdens and hurt profitability.
To the extent we cannot refinance debt on favorable terms or at all, we may be forced to dispose of properties on disadvantageous terms or pay higher interest rates, either of which would have an adverse impact on our financial performance and ability to service debt and make distributions
Unfavorable debt refinancing or missed mortgage payments could raise interest costs or cause property sales, foreclosure, lost income, and lower asset values.
- Risks Related to our Status as a REIT
We operate in an intensely competitive business environment. We may not be as successful as our competitors incorporating AI into our business or adapting to a rapidly changing marketplace
Larger, better-funded competitors with advanced technology and AI may innovate faster, win business, and disrupt UMH’s business model.
All 5 risk factors
Headings as the filing states them, in filing order.
Other
- 01Real Estate Industry Risks
- 02If any of the above were to occur, our business and results of operations could be adversely affected
- 03Any of the above listed factors could adversely impact our rate of manufactured home sales, which would result in a decrease in profitability
- 04To the extent we cannot refinance debt on favorable terms or at all, we may be forced to dispose of properties on disadvantageous terms or pay higher interest rates, either of which would have an adverse impact on our financial performance and ability to service debt and make distributions
Risks Related to our Status as a REIT
- 05We operate in an intensely competitive business environment. We may not be as successful as our competitors incorporating AI into our business or adapting to a rapidly changing marketplace
Other UMH Properties 10-Ks
- 2026 10-K risk factors
4 risks. UMH Properties relies heavily on manufactured home occupancy and rental rates across concentrated state markets. Subsidiary S&F faces strict licensing regulations under the SAFE Act for mortgage activities. Mortgaged properties expose the company to foreclosure risks if debt cannot be refinanced.
Filed Feb 25, 2026
About this page
Item 1A of the 10-K on EDGAR was split into its risk factors and, where the company's previous 10-K is on file, each heading was matched to last year's and the text compared word for word. The headings are the filing's own. The one-line readings and the overview were written by a language model from the text of the new, dropped, and rewritten risks; they refer to risks by position and cannot misquote a heading.